Private equity major Carlyle Group has agreed to sell Dutch technology services provider HSO, a leading global Microsoft services partner serving over 1,200 clients globally, to Bain Capital.
Terms of the deal, which was annouced this morning, have not been disclosed, although earlier reports suggested a value of around $1bn.
Bain Capital has invested alongside Peter J ter Maaten, who will remain a significant shareholder and board member.
Carlyle acquired HSO in 2019 and during its ownership period, Carlyle worked in partnership with the company’s leadership to support HSO’s international expansion strategy, build out new service lines, align its go-to-market strategy with Microsoft’s cloud, data and AI priorities, and further strengthen the management team with a range of key hires. Value creation was further accelerated through the strategic acquisition of companies in the US, Canada, Netherlands and New Zealand.
This deal, which is subject to customary regulatory approvals, comes amid a growing resurgence in private equity activity after a period of subdued dealmaking, driven by growing investor demands for capital deployment and liquidity events. Carlyle itself recently agreed to sell Calastone to SS&C Technologies for around $1bn and has continued to expand its tech services portfolio with acquisitions such as IT consultancy Adastra Group SE.
